Mexico-based broadcasting giant Grupo Televisa has threatened to take the country’s competition regulators to court over the blocking of its purchase of Grupo Acir Comunicaciones.
Televisa had intended to take a 50.01% holding in a new company, merging its radio assets with those of Clear Channel Communications’ Acir [WAMN: 19-Sep-00].
However, on Monday the Federal Competition Commission unanimously blocked the move, saying that the media group “dominates television and it would dominate radio, too. They will lead all competition to bankruptcy, especially in radio”. The Commission also feared that Televisa would offer advertisers TV and radio airtime as one package, harming competitors.
Televisa has asked the Commission to reconsider its ruling, and threatened to appeal against the decision in a Mexican court should the veto not be lifted.
News source: Wall Street Journal